Bitcoin wallet address types and balance Distribution

justdimin

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Activity: 3164

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www.Crypto.Games: Multiple coins, multiple games

Quote from: tbct_mt2 on April 29, 2023, 06:41:27 AM

Look at HODL waves, you will see that many Bitcoin holders fail to hold their bitcoins too long.

If you are interesting in, you can look at more detailed charts for different amount of hold bitcoins and how stats change with time.
1+ year hold wave
5+ years hold wave

If it is too general, you can check five charts for 0.1+ BTC, 1+ BTC, 10+ BTC, 100+ BTC, 1000+ BTC. Those charts are freely given by Lookintobitcoin.

If you can hodl more than 5 years and one month, you are surely in profit. It is based on past data from https://hodl.camp/

This is something I believe in as well but too many people keep saying "that was true in the past, you wouldn't know if it will be true for the future". As in they think that it was a good idea to do that back in the day, but if you want to do it now then it will not be doing that great, it will suck and the result will not be the same. I disagree, I think it was a thing that happens to be in the nature of bitcoin and as long as you hold for 5+ years, no matter when you buy, today, tomorrow, yesterday, none of that matters if you buy and hold for that long then you will make a profit.

This is why it is important to make a distinction and just focus on making profit and I believe that I will keep holding even longer than that, probably over a decade at least.

Kryptowerk

legendary

Activity: 2114

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Disobey.

Nice graphics and interesting statistics.
I just feel the scale / categories used could be optimized. Logarithmic would make more sense.
Also, would be very interesting to split all <1 BTC holdings into further categories. With an average ov < 0.04 it would make sense to check for 0.1 to 1.0 and 0.01 to 0.1 and below 0.01 addresses, too.
I see it's taken from Binance - wonder why they created these very arbitrary categories.

CryptoHeadlineNews

hero member

Activity: 1092

Merit: 747

I just added the figure on the "Entity Balance" given in the image below which seems to be the total amount of Bitcoin in circulation and I got 19.25 million BTC, which is quite different from the value I saw on 'blockchair.com" which currently showing that the total amount of BTC in circulation is 19.35 million, a whole difference of over 100,000 BTC mined from the moment that data was taken (January 2023) and now (April 2023).

Check:. https://blockchair.com/bitcoin

Learn Bitcoin

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Activity: 462

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Instant cryptocurrency exchange with own reserves!

Quote from: LDL on April 29, 2023, 03:25:13 AM

Burning question:
190,1450 Bitcoin Humpback & whale wallets can destroy the Bitcoin market?

I don't know why but, I feel like it's possible. They can destroy the market if they want. A few days ago, I saw a post in the WO thread and it make me think about it. I found this extremely relatable. Allow me to quote the post I am referring to;

Quote from: darkangel11 on April 26, 2023, 03:01:48 PM

Funny how we have over 19m circulating supply in Bitcoin, but it takes just 1k to move the spot price up or down by 10%. I'm always amazed by how easy it is to make temporary fake pumps and dumps, the good old bart simpson patterns.

We have over 19 Million circulated coins, still looking at the market. Simply 1000 Bitcoin Buy/Sell can move the market by 10%. Isn't it amazing? If a simple 1000 sale can down Bitcoin 10%, a single whale can give you a bear market for quite some time. Forget about other whales and Humpbacks. I kinda believe it's possible to destroy the market. But, eventually, Bitcoin will come back over time.

tbct_mt2

hero member

Activity: 2366

Merit: 838

Look at HODL waves, you will see that many Bitcoin holders fail to hold their bitcoins too long.

If you are interesting in, you can look at more detailed charts for different amount of hold bitcoins and how stats change with time.
1+ year hold wave
5+ years hold wave

If it is too general, you can check five charts for 0.1+ BTC, 1+ BTC, 10+ BTC, 100+ BTC, 1000+ BTC. Those charts are freely given by Lookintobitcoin.

If you can hodl more than 5 years and one month, you are surely in profit. It is based on past data from https://hodl.camp/

MainIbem

sr. member

Activity: 1316

Merit: 379

Fully Regulated Crypto Casino

Quote from: LDL on April 29, 2023, 03:25:13 AM

Burning question:
190 ,1450 Bitcoin Humpback & whales wallets can destroy the Bitcoin market?
If not, will Bitcoin ever be destroyed?

The answer is simply No because they can't destroy the market, destroying a market means dumping about 90 percent of total bitcoin supply. Even if the holders could dump up to 30 percent of total supply of bitcoin it will not destroy the market rather will cause panic to the Shrimps holders and would results in dropping in percentage.
But naturally i don't think if there is a wallet that holds about 30 percent of total supply so bitcoin can't be destroyed so easily. Instead those who missed the opportunity buy and hold would utilized that chance and buy more so the market could quickly gets stabilized again. Have this in mind, there are people who are just wishing for price to dump so that they will correct their mistake and accumulate more volume of bitcoin.

Wapfika

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Bitcoin makes the world go 🔃

Quote from: bayu7adi on April 29, 2023, 05:26:03 AM

Individuals who possess a large quantity of Bitcoin and currently hold the status of 'Whale' or 'Humpback' should possess a wealth of financial knowledge. They are aware that their current position holds significant sway over the market if they were to make simultaneous moves. This would undoubtedly cause the market to shift significantly. The Bitcoin market may dip, but only for a limited period.

It depends on when they accumulate their holdings. Majority of this humpback or whales holder are from old Bitcoin holder that accumulate their holdings when Bitcoin price is a dollar more or less. The wallet became dormant which is why they manage to hold for a long time. This people just get that title by simply forgetting or lost access of their wallet, they can’t be considered as person with financial knowledge.

I believe those institutional investors are worthy for these claim but there’s no certainty that they will holding until the end. They can collapse the market when they have a chance to secure profit due to limited liquidity on Bitcoin.

tabas

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There have been these titles that whoever set it became a meme and I always felt good that everyone is starting to be aware that we shouldn't just aim for being a shrimp. Tongue

But IMHO, there's no competition in collecting and having more bitcoins but it's more about encouragement based on how we see its growth overtime.

Quote from: LDL on April 29, 2023, 03:25:13 AM

Burning question:
190 ,1450 Bitcoin Humpback & whales wallets can destroy the Bitcoin market?

If not, will Bitcoin ever be destroyed?

Destroyed in a manner that it will be utterly be annihilated? If it's just related to the market, they can influence and move the market temporarily but it'll not be a permanent thing.

bayu7adi

hero member

Activity: 1470

Merit: 555

dont be greedy

Quote from: LDL on April 29, 2023, 03:25:13 AM

Burning question:
190 ,1450 Bitcoin Humpback & whales wallets can destroy the Bitcoin market?
If not, will Bitcoin ever be destroyed?

Individuals who possess a large quantity of Bitcoin and currently hold the status of 'Whale' or 'Humpback' should possess a wealth of financial knowledge. They are aware that their current position holds significant sway over the market if they were to make simultaneous moves. This would undoubtedly cause the market to shift significantly. The Bitcoin market may dip, but only for a limited period. Prices will recover as the public's demand for Bitcoin increases. These individuals will realize a new fact - that the number of 'Whales' has decreased and they will begin to boost their confidence by purchasing Bitcoin again when prices fall significantly.

I refrain from calling it a "collapse" as the demand for the Bitcoin market is still sufficiently high, and it seems to continue to increase every year.

sokani

sr. member

Activity: 658

Merit: 441

Quote from: LDL on April 29, 2023, 03:25:13 AM

Burning question:
190,1450 Bitcoin Humpback & whales wallets can destroy the Bitcoin market?
If not, will Bitcoin be destroyed?

In my own opinion, I don't think they will be able to destroy the market. There are about 19,000,000 BTC in circulation and by calculation humpback and whales wallets constitute about 10% of the circulating supply. If they decide to sell at the same time which is not possible, this would only fuel panic and cause a big dump or steep in the market price of Bitcoin, which would also give other investors the opportunity to buy and hodl but it cannot destroy Bitcoin.

Nwada001

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Activity: 700

Merit: 673

Quote from: LDL on April 29, 2023, 03:25:13 AM

Burning question:
190 ,1450 Bitcoin Humpback & whales wallets can destroy the Bitcoin market?
If not, will Bitcoin ever be destroyed?

If the humpbacks and whales, who have been holding for a long time now, suddenly decide to sell off all their holdings, which I doubt they will want to do all at once, Like un_rank said, it will have a positive price impact on the market; there will be panic and most people will sell, and at the same time, it will be a great advantage for others who have the intention to buy and hodl to grab some more because the price will definitely dump. New humpbacks and whales will appear within some minutes, days, or weeks.

un_rank

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Activity: 644

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- Jay -

Quote from: LDL on April 29, 2023, 03:25:13 AM

Shrimps on average 0.039BTC total address 32M

If not accounted for, the figure here would be skewed by the total amount of zero UTXO addresses which has never sent or received a transaction before.

Quote from: LDL on April 29, 2023, 03:25:13 AM

Burning question:
190 ,1450 Bitcoin Humpback & whales wallets can destroy the Bitcoin market?

If not, will Bitcoin ever be destroyed?

Why would the biggest holders of Bitcoin want to destroy the bitcoin market? If hypothetically all the big holders linked up and decided to dump, that would have a massive influence on the price negatively, but would not destroy bitcoin. The market would recover and we would have more diversification in ownership.

- Jay -

LDL

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Activity: 742

Merit: 671

Bitcoin is a popular virtual currency that is gaining acceptance among the people of different countries scattered around the world. So the competition to save this valuable currency is increasing day by day. Bitcoin addresses are known by different names depending on the size of bitcoins in which we usually store bitcoins in the wallet.

Bitcoin Addresses based on Amounts of Bitcoin Holdings

Shrimps(<1 BTC)
Crab (1-10 BTC)
Octopus (10-50 BTC)
Fish (50-100 BTC)
Dolphin (100-500 BTC)
Shark (500-1000 BTC)
Whale (1000-5000 BTC)
Humpback (5000+ BTC)

Numbers of wallets and Balance Distribution

Shrimps on average 0.039BTC total address 32M
Crab on average 2.73 BTC total address 740k
Octopus on Avg 21.75 BTC total address 80k
Fish on average 74.17 BTC total address 12k
Dolphin on average 214 BTC total address 10k
Shark on average 763.63 BTC total address 2.2k
Whales on average 1855.17 BTC total address 1.45k
Humpback on average 14473 BTC total address 190

Burning question:
190 ,1450 Bitcoin Humpback & whales wallets can destroy the Bitcoin market?

If not, will Bitcoin ever be destroyed?

Information taken from: https://www.binance.com/en/feed/post/394827?ref=36294493&utm_campaign=app_share_link

Topic: Bitcoin wallet address types and balance Distribution (Read 227 times)